Showing posts with label Business. Show all posts
Showing posts with label Business. Show all posts

Monday 27 June 2022

Selling solutions with a business sense.

 


 
As we discussed the emotional aspects that prevent us from selling our idea or solutions to others last week, let us discuss the practical approach to overcome the emotional derailers when selling the solutions to others.
 
Generally, two fears pull us down to sell our solutions to others with conviction.

1. Fear of rejection 
2. Fear of failure

Let us first discuss managing the fear of rejection, i.e., the fear in our minds about whether others will accept our solutions or not.
 
How do we overcome the fear of rejection? 

To answer this question, we need to understand the decision-making process of others to say YES or NO to our idea or solution.

Anyone will accept the solution only when they see benefits, either removing their pain or enhancing their pleasure. Generally, we always look for “what is in it for me? in every situation as human beings.

For example,

someone is offering a free webinar session on health and inviting you to attend. When will you accept to attend the session even though there is no commitment on money? When you see some benefits and a real need to learn something related to health, you agree to spare your time. That is nature in every decision-making.
 
If you understand this nature of emotions and decision-making, when you suggest an idea or solution in the professional environment, bring the  "business sense" to it.
 
Business sense means the solution should contain some VALUE for anyone to accept without much second thought.
 
At an individual level, the value could be eliminating or reducing the pain or increasing the pleasure, or revenue maximization or loss prevention from a business perspective.

i learned this insight from one of my managers some years back. We used to pack the materials in gunny bags, and a new trend was then catching up on using plastic containers. The same idea was discussed many times before, and considering the initial cost and risk of failure in a new idea, the proposal was rejected. During one of the management reviews, my manager presented to CEO  in a simple line stating what would be the overall cost of implementation, the overall cost-benefit, and the payback period. The way he projected the solution with cost vs. benefit, the management accepted the solution immediately.

For me, the key learning was that we need to sell our ideas with business sense either to any individual or any business professional.

In the absence of business sense, any idea or solution would be perceived with confusion and skepticism. There is a chance of rejection.

You may relate with your experience in selling ideas to others, and you may test it with a business sense approach next time.

Next week, let us discuss another approach to managing the fear of rejection by bringing clarity to the execution.
 
Have a great week ahead.

Wednesday 22 April 2020

Big picture thinking Vs. Micro detailing

Big picture thinking Vs. Micro detailing

A few weeks back, we have been discussing the need for big-picture thinking and the ways to develop at self-level and among the team. One aspect left out was  “ Which is ideal for the leader? Being big picture orientation or getting into micro detailing? When to switch in and switch out between big picture thinking and detailing?
 
There is no ideal style or state of thinking. Everyone should have both big picture thinking and micro detailing orientation. We need to know when to switch in and switch out as it depends on the context and situation. That awareness is essential. We can not always be in the extreme state as life is all about balancing, given the larger interest of others than self.

Some effective people are aware of themselves and able to switch in and switch out, and in both states, they bring value to the others and organization.
 
For example, 
 
I worked with a  senior colleague in an organization, who was regarded as a big picture thinker and visionary person. In a specific period, there was a huge demand for our products. Due to the supply chain issue, the team was struggling to manage the delivery crisis. He involved himself in the crisis, worked with micro details, and helped the team to sail through the crisis. At the same time, he understood the problem at the root level and thought about long term solutions. Post-crisis, he took some initiatives and solved the problem in the subsequent year. He brought the solution for the chronic problem due to his ability to switch in from the big picture to micro-level when it is required and the ability to see the big picture when working in detailing and solved the problem permanently. 

The point is as business managers or leaders; you need to develop the capability of switching in and switching out from big picture view to micro detailing and vice versa. This capability will help in sustainable growth.

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Additional note on this capability of switching in and switching out

Since I have the opportunity to work with more than 100 business leaders of small business, I did a little research on the leadership style (big picture orientation vs. micro-management) of those leaders. Only 47 % of the sample demonstrated both the capability during the intervention. Interestingly, there is a positive correlation between the business head who is capable of switching in and switch out and the consistent growth of the organization for the last 5~8 years period.

Whereas the business heads(41 %) who demonstrate a higher level of big picture thinking orientation and lack of detailing on a day to day issues, the organization struggles on the consistent growth or some organizations are stagnant or even switched to other businesses. Similarly, the business heads (12%)who demonstrate high on micro-level detailing also loses the sight of growth opportunities.

I am aware that many variables influence the growth or stagnant aspects of the business. I am not concluding that this leadership capability alone contributes to growth; however, it is also one of the contributors. We need to do more research on this aspect.

Monday 20 April 2020

Coping with uncertainties

With the prevailing uncertainty, most of us are undergoing internal anxiety and restlessness.

We have many queries, and no one able to predict and answer the following, which adds more anxiety and disturbance.
  1. How long this lockdown continues, and when things will become normal to go out freely?
  2. Even after lockdown, what will happen to my job and my business?
  3. Will I have sufficient cash to manage the basic and my business expenses?
  4. Will there be any change in the business model, how i  fit into that, and so on?
Whatever may be the answer or outcome, our mental strength is essential to cope with any challenges, and we can develop power through the combination of spiritual, emotional, logical intelligence.

My perspective on dealing with the uncertainty as follows

Accepting the reality:
First, we need to realize that we cannot control everything in life, and we need to go along with the flow. Today's situation is a common, global phenomenon, and we are just part of it. Go with the flow.

Expecting the best to come:
When we are uncertain, our mind works on what can go wrong. The more we think about the possibility of failures, we start believing that and our behaviors/actions fall in line with belief. Alternatively, accept the fact that nobody can predict the future. Let us believe that the best will unfold and cultivate the positiveness.

Cultivate the positives by looking at your past:
We have experienced many such uncertainties in our lifetime. For example, we have seen uncertainly in the 1990/ 2001 / 2008 economic crisis, in the last two decades more of natural calamities and epidemic incidents. During those times, we used to think the future is dark. On a personal level, every one of us might have come across the loss of family members, loss of job or money in the business, the stock market, or through theft.

During those moments, we might have thought that the future was almost lost and felt helpless. However, by overcoming all the social and personal crisis, we are still standing tall. That means, life challenges are just a storm, peaceful life is certainly possible post-storm. So, expect the best in any crisis, we will be better than ever before with our inherent strength.

Feel the gratefulness for overcoming those challenges and being secure today than before. That will reinforce the positiveness within us.

Faith in the power of nature  
As we discussed many times, the law of nature is more powerful and eternal for all times. Remember those phrases
"Nothing is permanent, either good or bad." 
"You will get trouble to the extent you can bear."
"Everything happens for a reason and right time; we are just part of it and playing a small role".
"When we look at all our live events in a longer time frame, the challenges look small. Time heals everything".


Your mindset and looking at the right, balanced perspective is vital for managing any uncertainty.

God bless all!
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Having discussed at the personal level, I have given my perspective  to help the Entrepreneurs / Business owners / Head of the small, emerging organization to manage the lockdown and post lockdown scenario
  1. The things to be done during the lockdown
  2. Likely scenario immediately after lockdown and the solutions approach 
  3. Long term business fitness for managing uncertainty in future
If you are interested, pl use the link below and read it as I believe that the contents will give some clarity or reaffirm the thought process of the business heads to manage the uncertainty.
https://businesstransformationinsights.blogspot.com/2020/04/coping-up-with-uncertainties-in.html

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Thursday 2 January 2020

Prioritizing task- accountability vs. responsibility

Prioritizing task- accountability vs. responsibility

One of the questions most of the managers use to ask “I have many tasks to perform in a day, how to prioritize? They are smart people and are already practicing the discipline of having a “To do checklist.” However, they left the office with the feeling of Incompleteness.

The feeling of incompleteness arises due to being busy with many tasks, but not much impact on growth. The solution is to prioritize the job based on accountability and responsibility basis.

Should the individual introspect and answer, “am I predominately doing on “my accountable task” or “my responsibility task”?

Am I doing justification for my position by doing those tasks predominately?

The above question will enable the individual to prioritize well.

For example, if you are a CEO or business head, your accountability is to ensure business profitability, stability, and growth. Your predominate task must be in line with your accountability. That is prioritization. Suppose if you do most of the activities which you claim as you are responsible, like chasing the production targets, microanalysis on your subordinate’s job, updating the customers on despatch status, then you are not prioritizing your tasks. Even though you are responsible for some of the activities which you can delegate.

Similarly, as supply chain head, one of your accountabilities is to ensure cost optimization, and you only can do that, that is, prioritization for you. The other responsibility tasks like signing every purchase order, followup with vendors, etc. can be delegated.

The key for prioritization is that we need clarity on our accountability and responsibility. Then need to learn to delegate the responsibility task to others. The clarity will enable you to prioritize your job.

However, there is some reservation on delegating the task, and we will discuss it next week!

Sunday 17 March 2019

Leading through Result ( Focus on the process)



As discussed, one of the development steps in leadership development is delivering consistent results. The dilemma most of us have is whether to chase the result or the process. To get clarity, we need to understand the law of nature.

"For any effect/result, there must be a cause/process ;
When there is a change in process, accordingly there will be a change in result".


For example, if you want to make the best presentation to your client( Result), many factors contribute to the result. Your presentation content, your body language, your voice quality, the environment in which you present, your client’s interest and so on. When all the process is good, the result also will be good. You may not have control over the result, but you can influence or ensure the process in all factors as much as possible.

When you focus on the process and drive the process, the result may be in your favor
.
Highly effective leaders, always focus on minute things and ensure the factors are always in their favor and eventually they achieve the result they want.

You might have seen some people exist successfully many years in their chosen field like media, sports, business amidst all the competition and turbulence times. You can see a typical pattern in their thought process, that is, continuously develop themselves as a process. When they are changing themselves as a process, the result is also sustainable.

    To sum up, if you want a great result, your process also needs to be different and robust. You can not influence the result, but you can influence the process. More your process is consistent the result also will be consistent and higher level.

Leadership is all about delivering result through the process, not through ad-hoc, shortcut, one-time success !.

Thursday 27 September 2018

Steps in Leadership Development Process

As discussed, leadership is all about personal development, and it is not given by others.
How to develop your leadership capabilities?

It consists of 4 steps. 

1.Personal leadership or leading yourself
2.Ensuring cordial Relationship with others or leading others
3.Performance  or delivering results
4.Developing others as a leader 




This step is applicable for everyone at ANY stages of the life cycle. 

For example, if you a "business head," you need to develop your leadership qualities by continuously working on those four steps.

If you are entering into the professional ladder as “ Trainee,” you have to develop your leadership capabilities continuously on those steps

On a personal front, if you are entering from "Bachelor to spouse role or spouse to father /mother," you have to develop your family leadership qualities based on those steps only.


It is a continuous improvement journey throughout life. There is no guarantee that as Manager you exhibited good leadership qualities would help you at General Management level. Each level or position calls for the development of different leadership capabilities.

As mentioned earlier, the leadership capabilities could be your thought process, attitude, words, actions and results and how it lifts your surroundings, your organizations, your teams and your personal and family quality of life.

Also, you observe that the development from one step to another step is sequential.but, in reality, it is parallel development only. We can not wait for PERFECT personal development to get into the next step of RELATIONSHIP building.

The point is you need to be conscious enough to develop yourself, your relationship quality, your performance and your effort in developing others on a continuous basis.

Let us discuss each step and its components in next week.

Learn to Lead (Understanding Leadership)

What is leadership?

Leadership is all about greatness in your thinking, your words, your actions and your results which leads to making a positive impact on your surroundings, organization, and family.

Leadership is a quality of the individual on character and competency which positively helps others.

Misconceptions about leadership :

1.    Leadership is given by others
2.    Leadership is related to a title like a manager or CEO
3.    Leadership is directly related to age and experience or educational qualification
4.    Leadership is for the organizational or political environment.
5.    Leadership is more about charisma

All the above are just a misunderstanding about leadership.

If you make a positive impact even a smile in others, that is leadership.

For example, we respect some people irrespective of their age, experience, position but only for the positive impact they made on us through their intention, words or actions. Whereas we may not like some people, even though they are holding reliable power. You can relate this with your network of people.


Leadership is all about 
what you do rather than who you are.

To illustrate this definition of leadership, some year back, Times of India had launched ad campaign " Lead India". The video link is given below
https://www.youtube.com/watch?v=V-gvE7MGIBw

Having understood the leadership definition as more about personal development, let us discuss the 
step by step development process next week.

Learn to Lead

If you observe any individual’s phenomenal growth or any organizational growth or any family’s upliftment, the hidden factor among all is“leadership.”

Leadership is not about the resources or positional status; it is more of personal qualities which are uplifting the individual or organization. For example, all organizations are filled with many people with various designations denoting as leaders, even then the organization struggles to make a positive impact or sustained growth. The reason is not due to resources, it is due to a lack of leadership.

As there are misconceptions on leadership and development, a holistic understanding is required on 
Leadership from the inside out perspective and we will discuss  the following  aspects of leadership
1. What is leadership and how it is different from a leader or manager?
2.Steps involved in developing leadership capability irrespective of your age, qualification or position
3.Insights in each of the steps in leadership development


I am firmly believing that “ Personal Leadership precedes any organizational, family leadership.” If the person is molded with the right leadership qualities, the organization he is associating with will also be flourishing. If the person is molded with right personal leadership qualities, his family upliftment also is ensured. The starting point is " personal leadership".

The fundamental is developing personal leadership capability WITHIN, and hence we will discuss more on Personal Leadership and its insights in the following weeks in detail.

Friday 12 January 2018

Why is your brand essential for growth?


Whether we like it or not, each person is like a  product which needs to be sold in the job market.Since most of your time is being spent in profession either working for an organization or owning a business, your brand in your work environment is important criteria for your progress in the career ladder.

What is a personal brand?

It is the perception of others about you when they think or what comes to their mind, which is your identity or brand. 

Now the question yourself, what is your brand in your organization? What identity or brand you had created in your organization?

You could have created a perception either as problem solver, people manager, taskmaster, good analytical person, hard worker, forward thinker or problem creator, complainer, blamer, lack of interest to learn, not dependable person and so on 

Based on the brand you establish,you are creating your opportunities and growth.

Good news is that little effort, you can build or change your brand as you want.

Be just aware of your personal brand and change or leverage it for your personal and professional growth in 2018!

Sunday 29 May 2016

Business model with compassion and profitability

   Inspiring video about a person who started from scratch after retirement and built a great , profitable organization with more compassion to poor people. It talks about Vision, Values, Business model, Spirituality, Possibilities, and Compassion.

   Moreover, while most of us striving for operational excellence through lean system thinking in manufacturing segment, they had been practicing lean operation/ service management and brought efficiency. Actually, that efficiency made their service more affordable and competitive .One key insight leadership is all about vision and execution.

Thought that it is very  inspiring , learning experience and hence  sharing the link below

https://t.co/2HnW47rN81

Hope you enjoy this video…